Interest rate cut lands, leading to a comprehensive decline in the financing cost of the real economy.

According to the website of the People's Bank of China, on May 8th, the People's Bank conducted a 158.6 billion yuan reverse repurchase operation using fixed interest rates and quantity bidding method, lowering the policy interest rate by 0.1 percentage points, that is, the interest rate for 7-day reverse repurchase operations in the open market was reduced from the current 1.5% to 1.4%. As there were no reverse repurchases maturing on that day, a net injection of 158.6 billion yuan was achieved. On the same day, according to the "Notice of the People's Bank of China on Lowering the Interest Rate for Individual Housing Provident Fund Loans", the interest rate for individual housing provident fund loans was lowered by 0.25 percentage points. Experts believe that this interest rate cut is not only beneficial for boosting market sentiment, but also for maintaining the stability of commercial banks' net interest margins, and through interest rate transmission, effectively reducing the comprehensive financing cost of the real economy, and consolidating the economic fundamentals. The adjustment of the interest rate for individual housing provident fund loans will better meet the demand for housing consumption and support the sustainable and healthy development of the real estate market.